Since bottoming out in March of this year, the Case-Shiller Index is up nearly 4 percent.

The most recent Case-Shiller Index shows a 0.9% rise in home values from June to July 2011. Home values were higher in 17 of the 20 tracked cities.

The June 2011 Case-Shiller Index reading posted strong numbers across the board, with each of the index's 20 tracked markets showing home price improvement from May.